Walmart cuts outlook as profit drops, misses estimates

August 18, 2015 11:50 AM

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Walmart's earnings continued to fall in the second quarter due to currency fluctuations and the retailer's investment in employee wages and training.

Walmart reported net income of $3.48 billion, down 15.1% from $4.09 billion in the year-ago quarter, the company said Tuesday. Walmart earned $1.08 a share in the quarter, missing analyst expectations for $1.12 a share.

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